YanKershop(SZ:002847) EBSCN·2025-12-18 07:11Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company has introduced a stock incentive plan for 2025, involving 3 million shares, which is 1.10% of the total share capital. The plan aims to enhance the motivation of key personnel by expanding the range of incentivized employees [1][2] - The performance assessment for the incentive plan focuses on profit, with specific targets set for net profit over the years 2026 to 2028. The targets include a net profit of no less than 8.5 billion yuan in 2026 and a cumulative net profit of no less than 31 billion yuan from 2026 to 2028, with a compound annual growth rate of 21% [2][3] - The company is expected to achieve a net profit of 9 billion yuan in 2026 and 10.6 billion yuan in 2027, indicating a high degree of certainty in reaching the set targets [3] Financial Summary - The company's projected financials show a net profit of 787 million yuan in 2025, with a growth rate of 22.91% compared to the previous year. The earnings per share (EPS) for 2025 is estimated at 2.88 yuan, with a price-to-earnings (P/E) ratio of 25 [4][10] - Revenue is expected to grow from 6 billion yuan in 2025 to approximately 8 billion yuan in 2027, reflecting a steady growth trajectory [4][10] - The company's return on equity (ROE) is projected to remain strong, with estimates of 37.73% in 2025 and around 36.79% in 2027 [12]